Isn't under the mattress the safest place, I fear an EMP wiping out the numbers in my account.

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Quote:

We all want progress. But progress means getting nearer to the place where you want to be. And if you have taken a wrong turning, then to go forward does not get you any nearer. If you are on the wrong road, progress means doing an about-turn and walking back to the right road; and in that case the man who turns back soonest is the most progressive man.

We all want progress. But progress means getting nearer to the place where you want to be. And if you have taken a wrong turning, then to go forward does not get you any nearer. If you are on the wrong road, progress means doing an about-turn and walking back to the right road; and in that case the man who turns back soonest is the most progressive man.

What you cunts have both got enough cash in the bank to buy a property outright?

I don't personally but I've got this great auntie, with no kids of her own. She just recently sold her house and is living in sheltered housing, the sale of her last house is in the bank. She also gets a decent pension £1000pm for life and her total monthly spend is £750 so the money just keeps racking up.

I have approached her about my situation about working a rented croft. She wants to buy a croft so I can eventually pay her back and own it myself interest free. Jammy I know.

What do you think DD? Currency or housing collapse first?

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"The guerrilla must move amongst the people as a fish swims in the sea."

Where as I'm actually one of the Illuminati with links to the oil industry, shhhh...

My take is that the BOE will be forced to increase interest rates because of inflation, which in turn will cause a wave of repossessions, which is one reason why it has been put off for so long. When the wave of repossessions arrives the market will be flooded and no longer will demand outstrip supply. That coupled with the vacuum of reduced Government money in the system will mean mortgage approvals will continue to decline.

Approvals in the first three months were the lowest on record for the first quarter of any year, apart from 2009.

With less and less buyers coming in, prices have to drop with more houses and less investors able to buy. Is that an oversimplification?

Obviously the question is how much of a hit will our currency take, I can't see us entering hyper inflation anytime soon, where as a housing market devaluation/correction is much more likely.

__________________

Quote:

We all want progress. But progress means getting nearer to the place where you want to be. And if you have taken a wrong turning, then to go forward does not get you any nearer. If you are on the wrong road, progress means doing an about-turn and walking back to the right road; and in that case the man who turns back soonest is the most progressive man.

my sister is looking at a house to rent today, and its 725 a month rent, and she is paying 12 months rent in advance.... I dont understand why she doesnt put the money towards a deposit instead.
Or even get one of those shared ownership thingies that need no deposit.